Desire Petroleum

<>Desire Petroleum plc (Desire) is a UK company listed on the Alternative Investment Market (AIM) dedicated to exploring for oil and gas in the North Falkland Basin.

Desire has recently completed a 6 well exploration programme. The Liz well encountered dry gas and gas condensate at 2 separate levels while other wells recorded shows.
Together with the Rockhopper Exploration Sea Lion oil discovery in the licence to the north, these wells have provided significant encouragement for the potential of the North Falkland Basin. The oil at Sea Lion is of particular interest as this has demonstrated that oil is trapped in potentially significant quantities in a fan sandstone on the east flank of the basin. It is believed that over 50% of this east flank play fairway is on Desire operated acreage.

Desire has now completed new 3D seismic acquisition which provides coverage over the east flank play, Ann, Pam and Helen prospects. The results from fast-track processing of priority areas are provided in the 2011 CPR. A farm-out to Rockhopper has been announced. The revised equities are shown on the licence map (subject to regulatory approval and completion of the farm-in well). Desire Petroleum

Rockhopper Exploration

British Geological Survey

Argos Resources



Latest Press Realeses from Desire

why would anyone sell these babies without confirmation of no oil......no oil at all....which means all the other options have proved to be no go.....we all know how long that will take.....and what the DES men think about those options....and the technical data and the cost of the rig......a few shots at the target yet....(including the first)....might be the first round or the last.....but the only way is to watch

hlyeo, that's a bit of a shocker even for you! Suspect that was fuelled by alcohol during Liverpool defeat! Blatant de-ramping is for other BB's (mentioning no names).

it's not deramping .... it was just a load of rubbish written without any kind of supporting thought or logic .... not responding to my post pretty much sums it up

http://www.bgs.ac.uk/falklands-oil/download/news.pdf

Falkland Islands Government
Department of Mineral Resources

Topped up for the last time until drilling update...plus a small spread...risky but 6 months for it to come right....

RKH might be a slightly safer play atm, as it will drop on a DES duster, but recover quickly as potential still there for their drilling campaign.

i can see no way in which RKH or any other of these falklands oilies can be safer than DES - safer being very much a relative word ..... where DES goes, so will the others for it is DES that will control sentiment across the board until such a time as the others start or at least get close to their own spudding.

Of course, but a DES duster would be a fait accompli for them, but would only affect temporary sentiment in others as punters would still expect results elsewhere, imo.

Topped up in Rockhopper as well.....less downside....and in the event of a strike even with a small ownership percentage will rocket just like DES.....6 wells to come.....must hit something by christmas...change that to : must hope they hit something by christmas....

am i not right in thinking that drilling started about 20th feb? ..... that being so, surely news not really expected until mid next week at the very earliest?

Not long now news in the next 7 days i would think,i see there was a MM "scap" sitting there all morning soaking up all the buys and now has moved and it could be a good sign for the price to start to go up.

Trimming out the dross & hype, the consensus seems to be that, assuming they haven't encountered any serious problems, they should now be at or reaching the logging stage (i.e TD has been reached), to be followed by well testing. Next week would be about right for news.

looking at the chart the trend doesn't appear too friendly.

Don't encourage hlyeo! He'll start on his shorting tirade again! ;o)

he's welcome to short, as are we all, but he needs to back his posts with some sort of logic and preferably money too

The original well plan stated 2.33 days for final TD E-logging and 8.65 days for testing........TD was a few days ago.

Also i see Desire was tipped in share mag yesterday as a BUY at 1.03p...just for halifax that bit.....a screaming BUY as the risk to reward was so great and if oil is struck will send the share price in to Orbit.

Level 2 12 v 1

SCAP still selling - 10k on offer at 94.50

marky seems still a heads or tails situation,rather buy at 40p than 1.03!

i'ld be happy to buy at 120+ on hearing a good result!

In your dreams !...on a very good result : that's if you are watching when the rns is issued : 140p minimum....you will struggle to get in, at barely a 25p premium.